Property prices up 7.1% in major cities
By Hu Yuanyuan (China Daily)
Updated: 2007-07-24 08:40
Updated: 2007-07-24 08:40
Though the government has been adjusting its real estate policies, skyrocketing property prices could continue to pose a risk in the second half of the year, raising the possibility that further cooling measures could be on the horizon, said Zhu Zhongyi, secretary general of the China Real Estate Association.
Meanwhile, real estate investment jumped by 28.5 percent on a yearly basis, topping 989 billion yuan in the first six months, according to the NDRC. That was 4.3 percentage points higher than during the same period of last year and 1.6 percentage points higher than the first quarter of this year.
"The government could launch measures targeting key cities if the property markets there get out of control," Zhu said.
"And the restrained attitude towards foreign investment in the property market shows no signs of loosening in the next six months."
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"The growth is mainly driven by second-tier cities," said Eric Chan, deputy managing director of Savills Property Services (Beijing) Company.
"And we are still expecting more investment in the property sector in the second half of the year, but the growth rate depends on the policy and investment environment."
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